🏠 Buying a house in New Mexico | 🏘️ Selling a house in New Mexico | 🚚 Moving to New Mexico
❓ FAQ | 📊 Methodology
🏡 Home values in New Mexico have risen 11.09% over the past year, indicating a seller's market.
📈 Housing inventory (the total number of homes for sale) stands at 3,441. That's about 4.79 months of inventory, indicating a seller's market.
📊 The sale-to-list price ratio (the percentage of listing price sellers are actually getting) is 94.80%, indicating a buyer's market.
How does New Mexico compare to the national average?
| Data point | Value | Rank | Compared to national avg |
| Typical home value | $311,663[1] | #31 of 50 states | 17.1% lower |
| Median listing price | $400,000[2] | #27 of 50 states | 9.8% lower |
| Median sale price | $374,500[3] | #30 of 50 states | 14.4% lower |
| 30-year mortgage rate | 7.01%[4] | #26 of 50 states | 0.5% higher |
| Median days on market | 75[5] | #47 of 50 states | 27.6% longer |
Looking to buy or sell in New Mexico?
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Buying a house in the New Mexico real estate market
New Mexico has an affordability score of 6, meaning it takes 6 years of the median household income ($62,268) to afford New Mexico's median home sale price ($374,500). Because of this, we rank New Mexico as the 16th least affordable state for buyers based strictly on prices compared to income.
| Data Point | Value | Rank | Compared to national avg |
| Median sale price | $374,500[6] | #30 of 50 states | 14.4% lower |
| 30-year mortgage rate | 7.01%[7] | #26 of 50 states | 0.5% higher |
| Median household income | $62,268[8] | #43 of 50 states | 19.1% lower |
| Affordability ratio | 6.0 | #35 of 50 states | 7.9% higher |
| Buyers agent commission | 2.89%[9] | #44 of 50 states | 5.2% higher |
Who pays for realtor commission in New Mexico?
Real estate agents' commissions are technically the responsibility of their respective clients - buyers pay their agents, and sellers pay theirs. Each party signs a contract with their agent promising to pay. However, sellers usually offer to pay for the buyer's agent so they can more easily afford the home.
Who pays closing costs in New Mexico?
Sellers are usually responsible for most closing costs, but some closing expenses fall to the buyer. As a buyer, you'll be expected to pay for the mortgage loan origination fee and other lender-related fees, private mortgage insurance, the down payment, an appraisal fee, and a home inspection fee.
Learn more about who pays closing costs in New Mexico.
Resources for New Mexico home buyers
Preparing to buy in New Mexico
New Mexico home buying costs
Selling a house in the New Mexico real estate market
According to our detailed survey of New Mexico real estate agents, listing agents (those representing the seller) charge an average commission in New Mexico of 2.85%, which is the 24th highest in the United States. Buyers' agents charge an average commission of 2.89%, which is the 7th highest in the United States.
| Data point | Value | Rank | Compared to national avg |
| Median listing price | $400,000[10] | #27 of 50 states | 9.8% lower |
| Median sale price | $374,500[11] | #30 of 50 states | 14.4% lower |
| Median days on market | 75[12] | #47 of 50 states | 27.6% longer |
| Buyer's agent commission | 2.89%[13] | #44 of 50 states | 5.2% higher |
| Listing agent commission | 2.85%[14] | #27 of 50 states | 0.3% higher |
Resources for New Mexico home sellers
Preparing to sell in New Mexico
- Selling a House in New Mexico: 8 Simple Steps
- How Long Does It Take to Sell a House in New Mexico?
- When Is the Best Time to Sell a House in New Mexico?
- Top Real Estate Agents in New Mexico
New Mexico home selling costs and requirements
Moving to New Mexico
According to our recent moving trends survey[15], 8% of Americans indicated that they would choose to move to New Mexico if money were no object. Likewise, 12% of survey respondents indicated that they would move to Albuquerque among a choice of America's medium-sized cities.
Here's how New Mexico cities rank in a number of our research studies.
| Study | Best New Mexico city | Rank |
| Best Pizza Cities[16] | No ranking New Mexico cities | No ranking New Mexico cities |
| Best Coffee Cities[17] | No ranking New Mexico cities | No ranking New Mexico cities |
| Best LGBTQ Cities[18] | No ranking New Mexico cities | No ranking New Mexico cities |
| Best Bike Cities[19] | No ranking New Mexico cities | No ranking New Mexico cities |
| Best Commuter Cities[20] | No ranking New Mexico cities | No ranking New Mexico cities |
Where to shop for homes in New Mexico
Frequently asked questions
As of October 10, 2025, the median days on market (DOM) in New Mexico is 74. On average, it takes about 72 days to sell in New Mexico.
Home values have risen in New Mexico over the past year. The current median home value is $314,968 and it's projected to decrease by 2.82% in the next year.
As of October 10, 2025, sellers in New Mexico are typically getting 100% of the list price for their homes.
Methodology
Information on market conditions is based on Zillow data as of August 2025, Realtor.com data as of September 2025, and HouseCanary data as of October 10, 2025, unless specified otherwise.
We gathered our commission rate data from a September 2025 survey of 828 of agents nationwide. The survey asked about standard local rates for both listing and buying agents. To ensure an adequate amount of agent data, these data points are averages based on responses we've received from 114 agents in the Southwest region.